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Purchase Agreement for Real Property Acquisition <br />Warner Avenue Improvements Phase 1 <br />May 7, 2019 <br />Page 2 <br />amount listed above is incorporated in the attached agreement (Exhibit 2). As stipulated in the <br />agreement, the City will deposit a $55,900 Benefits Payment, which includes relocation <br />assistance, relocation benefits, purchase price differential, moving expenses, any potential <br />interest differential and eligible nonrecurring incidental costs, in escrow together with the full <br />property acquisition purchase price of $464,100. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (develop and implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Deferred Maintenance Plans). <br />Approval of this item also supports the City's efforts to meet Goal #3 — Economic Development, <br />Objective #2 (create new opportunities for business/job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Strategy C (support <br />business development and job growth along transit corridors through the completion of critical <br />transit plans/projects). <br />ENVIRONMENTAL IMPACT <br />On September 1, 2015, City Council approved the Warner Avenue Final Environmental Impact <br />Statement (SCH No. 2012101004). <br />FISCAL IMPACT <br />Funds in the amount of $520,000 are available in the Warner Avenue Improvements Project (No. <br />14-6802) for expenditure in FY 2018-19 as follows, subject to nonsubstantive changes: <br />Fiscal <br />Accounting Unit- <br />Fund Description <br />Accounting Unit, <br />Amount <br />Year <br />Account Number <br />Account Description <br />FY 18-19 <br />03217663-66100 <br />Measure M -Street <br />Measure M2 Competitive <br />$348,075 <br />April -June <br />Construction <br />Street, Land <br />FY 18-19 <br />05917668-66100 <br />Select Street <br />Select Street <br />$116,025 <br />April -June <br />Construction (City of <br />Construction, Land <br />Tustin Contribution <br />FY 18-19 <br />03217663-66220 <br />Measure M -Street <br />Measure M2 Competitive <br />$41,925 <br />April -June <br />Construction <br />Street, Improvements <br />Other than Building <br />FY 18-19 <br />03417660-66220 <br />New Transportation <br />New Transportation <br />$13,975 <br />April -June <br />System Improvement <br />System Improvement Area <br />Area E <br />E, Improvements Other <br />than Building <br />Total Agreement Amount: <br />1 $520,000 <br />25F-2 <br />